“Event risks aren't particularly high and the local market seems intent on waiting for the MPC decision on Thursday.”

The South African Reserve Bank will announce its second monetary policy decision of the year on Thursday after hiking rates for the first time in nearly six years in January as a weak rand stoked inflation.

Economists expect the bank will keep the repo rate at 5.5 percent this time around, but will raise it again later in the year.

Yields on government bonds were down slightly as bonds firmed with the steady currency.

The yield on the 2026 benchmark issue was at 8.56 percent, while that on the 2015 note traded at 6.945 percent. - Reuters